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How cash plans are evolving to meet the need of employers and employees

How cash plans are evolving to meet the need of employers and employees The desire to provide health benefits to those who do not qualify for PMI is driving growth in cash plans The trend to offer new elements to cash plans is continuing But it is unlikely cash plans will replace PMI in the near future Cash plans remain a popular benefit offering for employers. But what are the reasons behind this popularity and how the market is evolving? In a world where employee benefits are under constant review against the backdrop of rising employment costs as a result
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Great North Run and Lincoln Half Marathon 2017 Director running in aid of St Barnabas Hospice Trust (Lincolnshire)

Adam Davey is donning his trainers once again on 10th September to run in the world’s largest half marathon, the Great North Run, for the 13th time. Having raised over £10,000 over the past years, he is once again raising vital funds for St Barnabas Hospice. St Barnabas Hospice provides specialist care to people with a life limiting illness. In the last 12 months they have cared for over 5,500 patients and their families across Lincolnshire. The world’s leading half marathon, the Great North Run, was first staged in 1981 where just over 12,000 people took part on the 13.1
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How cash plans are evolving to meet the need of employers and employees

How cash plans are evolving to meet the need of employers and employees The desire to provide health benefits to those who do not qualify for PMI is driving growth in cash plans The trend to offer new elements to cash plans is continuing But it is unlikely cash plans will replace PMI in the near future Cash plans remain a popular benefit offering for employers. But what are the reasons behind this popularity and how the market is evolving? In a world where employee benefits are under constant review against the backdrop of rising employment costs as a result
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Brands with outdated talent acquisition strategies will fail in the customer age

Brands with outdated talent acquisition strategies will fail in the customer age, say CAB Studios Strategic brand, marketing and digital consultancy CAB Studios claim that creativity is often overlooked by organisations seeking out the next generation of talent, and that creative education must be mandated and regarded more highly in order for the industry to continue to grow. This is according to their new White Paper ‘Power to the Customer’, which explores how brands must evolve in the customer age, and what the industry needs to do to keep pace. CAB Studios, whose client list includes Pizza Express, Jamie’s Italian, DW
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More than a fifth of small business owners offer no employees benefits

Small businesses are suffering a staff brain drain with nearly one in five workers quitting each year for new jobs blaming poor employee benefits, according to research from Pure Benefits. The study by the company found 18% of staff – around 450,000 a year – have switched in the past five years saying a lack of benefits was a major reason. Small businesses with fewer than 50 staff employ more than 12.4m across the UK and have total annual turnover of more than £1.2 trillion but struggle to source employee benefits such as life insurance, income protection and private medical
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Half a million employers meet workplace pension duties

More than half a million employers have now completed their duties under the Government’s landmark workplace pension savings drive. The Pensions Regulator said by 31st March 2017, 503,178 employers had completed their duties under automatic enrolment, with more than 7.6 million workers now saving for their retirement after being put into a workplace pension. Automatic enrolment started in 2012 with the biggest employers that tend to have the most experience of pensions. It is now being rolled out to smaller employers, some employing just one or two people. The Pensions Regulator said in the first three months of this year
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Pension Fear for SMEs

As reported on this news page in December last year (http://petaurumsolutions.co.uk/2016/12/14/50-accountants-unable-answer-auto-enrolment-queries/) according to a report by employee benefits adviser Helm Godfrey, things haven’t got much better, with small and medium-sized businesses continuing to be at risk of choosing unsuitable pension schemes because of a lack of auto enrolment knowledge among accountants. The report has revealed that while 70% of small firms with 4 or fewer employees would turn to their accountant for auto enrolment advice, 43% of accountants believe they do not know enough about auto enrolment to give accurate and up-to-date advice. More than half (56%) of accountants admitted
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Financial problems for over half of employees are affecting their work performance

One of the biggest concerns cited by many of those being polled on their views during the General Election campaign has been the high cost of living compared to wages. Now a new report claims that over half (55%) of employees are experiencing financial problems, which are affecting their behaviour, relationships and ability to perform at work. Although the nationwide study of the financial wellbeing of UK workers The DNA of Financial Wellbeing 2017 report, claims that nearly a third (32%) cite finance as their biggest concern; 66% of HR directors, think that financial worries are not of concern to their employees.
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Pension Fear for SMEs

As reported on this news page in December last year (http://petaurumsolutions.co.uk/2016/12/14/50-accountants-unable-answer-auto-enrolment-queries/) according to a report by employee benefits adviser Helm Godfrey, things haven’t got much better, with small and medium-sized businesses continuing to be at risk of choosing unsuitable pension schemes because of a lack of auto enrolment knowledge among accountants. The report has revealed that while 70% of small firms with 4 or fewer employees would turn to their accountant for auto enrolment advice, 43% of accountants believe they do not know enough about auto enrolment to give accurate and up-to-date advice. More than half (56%) of accountants admitted
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Pensions Auto Enrolment warning as regulator ramps up action.

The Pensions Regulator has revealed it will carry out auto-enrolment compliance spot checks on employers across the UK. The inspections will “serve as a warning to employers that they cannot ignore the workplace pension and that deliberate non-compliance will not be tolerated”, officials said. Meanwhile, financial advisory firm Wealthcare warned over ill-prepared businesses. It carried out research, which found more than four out of 10 small firms, have been waiting until the last minute to sign up their employees to an auto enrolment pension scheme. Stephen Cainer, joint managing director of Wealthcare, said: “Our figures show there is still an
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